12.22.10
Inter Parfums SA, the prestige fragrance company, and Burberry, the global luxury company, have extended by one year certain terms of their fragrance license, including the length of the agreement to Dec. 31, 2017. Burberry’s right to buy the license has moved from Dec. 31, 2011 to Dec. 31, 2012, and the option requiring the consent of both parties to extend the license five years beyond 2017 now becomes exercisable at Dec. 31, 2015.
Burberry Chief Executive Officer Angela Ahrendts commented, “Working in partnership, Inter Parfums and Burberry have created a highly successful fragrance business with outstanding growth prospects in both the fragrance and beauty categories. Together, we are exploring paths to best achieve this potential.”
Inter Parfums President and Chief Executive Officer Philippe Benacin added, “Burberry and Inter Parfums currently have a range of projects in various stages of development. The amendment provides the flexibility to execute current priorities while exploring ways to work together in the future. This includes structuring expansion of the recently launched Burberry Beauty business beyond the test phase.”
Burberry Chief Executive Officer Angela Ahrendts commented, “Working in partnership, Inter Parfums and Burberry have created a highly successful fragrance business with outstanding growth prospects in both the fragrance and beauty categories. Together, we are exploring paths to best achieve this potential.”
Inter Parfums President and Chief Executive Officer Philippe Benacin added, “Burberry and Inter Parfums currently have a range of projects in various stages of development. The amendment provides the flexibility to execute current priorities while exploring ways to work together in the future. This includes structuring expansion of the recently launched Burberry Beauty business beyond the test phase.”